New records for Australian resource and energy exports

Resource and energy exports have set a record in income earned for Australia, according to recent figures from the June 2019 Resources and Energy Quarterly.

The June 2019 Resources and Energy Quarterly is compiled by the Office of the Chief Economist in the Department of Industry, Innovation and Science.

Minister for Resources and Northern Australia, Matt Canavan, said, “Resource and energy export earnings are estimated to have reached a record $275 billion in the 2018-19 financial year and are expected to hit $285 billion in 2019-20.

“Exports of coal remained strong but iron ore was surging and gas has fired up too.

“The investment in LNG projects has significant flow-on benefits on the east coast and the west coast of Australia.

“The oil and gas industry underpins around 80,000 direct and indirect jobs – and hundreds of thousands of Australian jobs rely on the reliable, affordable and sustainable supply of oil and gas.

“LNG exports also have regional and global environmental benefits. LNG is helping to cut carbon emissions in electricity generation, especially in large cities across Asia. LNG helps developing countries reduce air pollution, a major cause of millions of premature deaths.”

“Australian LNG is doing its bit in addressing the global challenge of reducing emissions while also growing the Australian economy,” Mr McConville said.

The June 2019 edition of Resources and Energy Quarterly can be found here.